Welspun acquires 76 pc stake in Sorema

Mumbai, Dec 19 (UNI) Welspun India Ltd.a terry towel manufacturing company, today said it has acquired a majority interest of 76 per cent in a Portugal-based bath rug major Sorema.

Sorema, which is a leading player in bath rugs and shower curtains around the world, had an enterprise value of Rs 60 crore.

Earlier, Welspun acquired 85 percent stakes of UK-based largest towel company 'Christy' in July last year, the company said in a statement.

UNI